Who Is Buying Those Vancouver Homes?

Ever Wonder?

We see the numbers but the numbers don’t have faces. Do you ever wonder who is buying those Vancouver homes?

Survey Says

Each month the Real Estate Board of Greater Vancouver sends out a buyer demographic survey to members who have made at least one sale in the preceding 30-day period.

Here are the results:

Courtesy REBGV reprinted with permission

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

eastvanspesh Says:
June 15th, 2012 at 10:27 am

15% pay all cash????
I’m in the wrong biz.
I need to start a grow op.

vangrl Says:
June 15th, 2012 at 11:15 am

hey you sold that duplex, congrats!

Can you please e-mail me the selling price of #201 2255 West 5th ave if it’s not too much of a hassle for you?

wish they just had these stats available on the mls site

June 15th, 2012 at 12:06 pm

@eastvan
that part of the report could be a bit misleading. In actuality any sale is an all cash sale to the Seller. That a buyer is taking out a mortgage still means the seller gets paid in cash.

Were someone to turn up with a suitcase of cash to buy a home first I wouldn’t do business with them and second, you can bet that FINTRAC wants to know about it. 🙂

June 15th, 2012 at 12:07 pm

@vangrl
yup sellers are happy.
thanks for the fuzzies 🙂

Jason Says:
June 15th, 2012 at 3:52 pm

Very interesting data. It’s not easy to find these types of statistics anywhere.

Just out of curiosity what is the difference/correlation between Foreign investors and buyers that moved from outside of Canada.

It feels like there should be another option in the “Where did buyers move from?” that says the buyers didn’t in fact move as they are foreign investors.

June 15th, 2012 at 4:36 pm

@jason
it is hard to make perfect surveys.

“difference”:
Presumption is that foreign investors may have bought but chose not to reside here. the latter is self explanatory.

Why not include “Where did buyers come from?”
Good question.

PCINWA Says:
June 15th, 2012 at 7:46 pm

If I have my math right, then that means that 37 out of 1124 survey participants this year (i.e., 3.3%) are foreign investors. Wow…I’ll bet 99% of people in Vancouver would bet this would be a much bigger number…

Is this data available for further back than January? It’d be interesting to see how answers have changed over, say, the last 10 years.

Yellow Helicopter Says:
June 22nd, 2012 at 10:42 am

Hi Larry,

Very interesting stats; thanks so much for sharing! Congrats on selling the duplex.

Andy Says:
June 29th, 2012 at 11:16 am

Larry,
Thanks for posting this,
I think it dropped off the board when your server had problems. ? or would have caused a lot more interest.

This is fascinating and as previous poster mentioned not what most armchair experts would have thought

The fact that ‘most’ buyers are (i) Vancouver families, (ii) buying with at least 25% down makes me believe that while I am sure (and hope) a reasonable correction is coming we are not heading for a US style end of the world situation.

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